facebookWhat happens if a robo-advisor goes bankrupt? - Seedly
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Anonymous

Asked on 15 Jan 2020

What happens if a robo-advisor goes bankrupt?

I have contacted Stashaway but I'm not convinced by their response.

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5 answers

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Answers (5)

Tai Zhi

Tai Zhi

Level 6. Master

Answered on 30 Jan 2020

I work for AutoWealth. To provide the highest safeguard to you, your assets and monies will be held in a personal segregated custody account in your legal name. In this arrangement, only you have legal beneficial ownership over the assets and monies.

1

Komal Krishna

Komal Krishna

30 Jan 2020

Thanks for the response. I have an active portfolio in Autowealth too.

Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about

Post

Hi there,

At Kristal.AI we use Saxo Capital Markets as the broker and hence custodian for our retail portfolios. They too are regulated by MAS and maintain the capital requirements as needed. For significantly larger sized accounts we even offer managing portfolios in Bank of Singapore / DBS or any such bank account. In the event of Kristal closing down, all assets held at Saxo via Kristal have to be sold and cash transferred out to another bank or broker. An administrator typically oversees this process. Client money is always kept segregated from comapny funds and there two can never be intermingled regulatorily.

Given the size that we have grown to the risk of us facing such closure is limited. However if you have a much larger portfolio feel free to know more about our managed account offering.

Thanks

0

Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about

Post

Hi there,

Just jumping in to provide more clarity or assurance on your bankruptcy concern.

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